city of kelowna CONDO - DECEMBER 2 0 2 4
MONTHS OF INVENTORY 7.9 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2023
▲ 58% VS 2023
▼ 0.7% VS 2023
▼ 1.8% VS 2023
There were 387 condo listings in the City of Kelowna in December, 16% below November and 8% higher than December 2023. December condo sales decreased by 38% month-over-month, to 49, and were 58% above December 2023. The months of inventory for condos in the City of Kelowna, at 7.9, re&ected a balanced market. The condo median price in December was $432,000, a 1.8% decrease from November and 1.8% below December 2023. The average sold price was $463,077, 1.2% below last month; the average PSF sale price was $489, down 4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$489 $463,077 $432,000 7.9 49 387
$496 $466,376 $440,000 11.5 31 358
-1.4% -0.7% -1.8% -32% 58% 8%
$510 $468,903 $439,900 5.9 79 463
-4% -1.2% -1.8% 35% -38% -16%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
570
564
59
601
512
581
463
526
516
490
387
417
358
356
35
33
103
91
88
79
50
37
49
75
69
31
68
65
58
$537K
$475K
$458K
$455K
$457K
$450K
$442K
$440K
$440K
$434K
$430K
$432K
$421K
Dec-23
Nov-24
Dec-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
24+
24+
150
4+ bdrms
2
100
2
3 bdrms
13.0
49
7.2
50
34
2 bdrms
4.2
242
2.0
0
13
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 1 2 2.0 21 89 4.2 22 158 7.2 2 66 33.0 2 26 13.0 0 12 n/a 0 8 n/a 1 26 26.0
<2 bdrms
94
Copyright © 2025 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 13, 2025. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 10 ●
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